Bengaluru-based wealthtech startup Scripbox has initiated the process of converting into a public limited company, marking another step towards its potential IPO.
According to regulatory filings accessed, the company's board has passed a resolution approving the proposed conversion of Scripbox Wealth Managers Private Limited into Scripbox Wealth Managers Limited. The move involves changing the company's legal name and corporate status from a private limited entity to a public limited company.
The proposed IPO is expected to comprise a fresh issue of equity shares and an OFS by certain existing shareholders. However, the company has not disclosed the proposed IPO size, timeline or valuation.
Scripbox's IPO Preparation And Fundraising Plans
The development comes nearly six months after The Unicorn Magazine reported that Scripbox was planning to raise up to Rs 170 crore through a combination of debt and equity as part of its growth and IPO preparations.
As part of the proposed fundraising, the company's board had approved raising up to Rs 60 crore from select investors through equity shares, preference shares and convertible instruments. It had also approved debt facilities of up to Rs 110 crore from banks, non-banking financial companies (NBFCs) and other financial institutions.
The proposed capital mobilisation was intended to strengthen the company's balance sheet and support its expansion plans.
In June 2026, Scripbox acquired the mutual fund distribution business of Delhi-NCR-based Bluechip Capital, a wealth management firm founded by Ravi Kohli more than three decades ago. Following the transaction, Bluechip Capital's clients and employees transitioned to Scripbox.
Who Founded Scripbox?
Founded in 2012 by Atul Shinghal and Sanjiv Singhal, Scripbox operates a digital wealth management platform offering investment products across mutual funds, fixed deposits, US stocks, exchange-traded funds (ETFs) and the National Pension System (NPS).
The company also provides financial planning, portfolio management and investment advisory services, catering to retail investors looking for digital wealth management solutions.
Over the years, Scripbox has raised more than $55 million from investors, including Accel, LetsVenture and DMI, according to previously reported funding data.
Scripbox Turns Profitable In FY25
On the financial front, Scripbox reported a significant improvement in its performance in FY25, turning profitable after several years of losses.
According to its consolidated financial statements, the company's operating revenue increased 27% YoY to Rs 107.24 crore in FY25, compared with Rs 84.33 crore in FY24.
Its net profit stood at Rs 12.77 crore during the year, against an adjusted net loss of Rs 44.7 crore in FY24, excluding the impact of exceptional gains from ESOP cancellations.
The improvement was supported by lower operating expenses, which declined 29% to Rs 95.82 crore in FY25. Employee benefit expenses also fell significantly, partly due to a reduction in ESOP-related costs.
The company is yet to disclose its FY26 financial results.
With its proposed corporate restructuring, earlier fundraising plans, acquisition activity and improved financial performance, Scripbox is moving towards a potential public-market debut. However, the conversion into a public limited company should be viewed as an IPO-preparation step rather than confirmation of a completed listing process.
